Resident Representative Office in Benin

This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Benin and the IMF. Additional information can be found on Benin and IMF country page, including official IMF reports and Executive Board documents in English and French that deal with Benin.

At a Glance : Benin's Relations with the IMF

Benin joined the Fund on July 10, 1963

Total Quotas: SDR 61.90 Million (As of August 31, 2012)

Loans outstanding: ECF Arrangements SDR 66.78 Million

Last Article IV Consultation: The 2012 Article IV Consultation staff report was discussed by the Executive Board on November 9, 2012, (IMF Country Report No. 13/9)

Building Resilience in Sub-Saharan Africa's Fragile States

Fragile states—states in which the government is unable to deliver basic services and security to the population—face severe and entrenched obstacles to economic and human development. While definitions of fragility and country circumstances differ, fragile states generally have a combination of weak and non-inclusive institutions, poor governance, low capacity, and constraints in pursuing a common national interest. As a result, these countries typically display an elevated risk of both political instability (including civil conflict), and economic instability (through a low level of public service provision, inadequate economic management, and difficulties to absorb or respond to shocks). Crises in such countries can also have significant adverse spillovers on other countries. In contrast, resilience can be defined as a condition where institutional strength, capacity, and social cohesion are sufficiently strong for the state to promote security and development and to respond effectively to shocks.

Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.